Reply To: Los Lagos What to do?


Ann, you are right to be cautious.

There is no guarantee that Los Lagos or other developments in the area will be granted the very important LFO. The original building licence was not for apartment blocks, only Town Houses/villas. The corrupt Town Hall of the time(Jesus Gil) gave “permission” for apartments. It’s now forms part of the many developments under investigation connected to the “Malaya” case.
Hopefully for all concerned, this matter will draw to a successful conclusion and the LFO will be granted. Let’s face it, they either have to grant the LFO …or pull them down really can’t see the latter happening.
Another thing to consider is that until the LFO is granted, it will be difficult to sell on. With so many empty properties, it is a buyers market which could deflate prices. It depends upon whether you want the property long term or not.
You said you are buying it as an off plan re-sale. How can the original owners sell to you without an LFO in place? 😕 Maybe Drakan could answer this. I wonder what his advise would be given your situation.?
There are many people in a similar position to yourself. You need to trust what your lawyer advises and go with your own gut instinct. Don’t be rushed/pushed into making a decision. I really hope it turns out well for you. 🙂